bit25
- 1. Rohan Shetty
- 2. About bit25 • Industry: Payment Processor • Products: Payment systems (bitcoin) • Customers: Retail and merchant • Areas served: Worldwide • Website: rs5445.wix.com/bit25
- 3. Vision To create a decentralized payment system for all your needs.
- 4. bit25’s objectives • To make bitcoin available to everyone. • To be the platform for bitcoin integration. • To reduce the cost of transaction for payments and remittances. • To be the trusted brand in the bitcoin payment processing space. • To make it user friendly.
- 5. Key Performance Indicators • Conversion rate (% of successful transactions) • Number of transactions • Ease of buying/selling bitcoins • Total payment volume (Equivalent to GMV) • Bounce rate • Time spent per session
- 6. Targets • B2C – Retailers like Amazon, Subway and JC Penny • B2B – Corporations like IBM, Microsoft, and Oracle.
- 7. Competitive Analysis Component Website https://airbitz.co/ https://bitpay.com/ https://coinbase.com/ Look & Feel Navigation Checkout Poor GoodAverage
- 8. Updated Design of the website http://rs5445.wix.com/bit25
- 9. Attracting, convincing and retaining customers • Focus on major benefit: Lower charges compared to any bank/clearing house. • Convince customers who do not have bank account - as they do not have much choice other than cash. • Aim to reduce cash transaction. • Creating awareness / education • Providing lock-in rates for fluctuating bitcoin values.
- 10. Market Size • Market capitalization: $6,446,951,119 • Number of transactions: 208,458 • User count: 6,451,541 • Size of Potential market: Since trust has to be gained, bit25 is targeting 1% of current internet payment users for 3 years. Source: blockchain.info All data as of March 12, 2016 except Size of Potential Market.
- 11. Value Proposition & Loyalty • Less charges for both retailers and merchants compared to banks. • No government regulations as it is decentralized. • High security • Immediate transaction. • Winning trust • Open accountability • Royalty programs • Customer reviews
- 12. Buyer decision journey • The decision making process used by a customer before, during and after buying a product / service. 1. Bitcoin recognition and awareness: consideration to opt for BTC 2. Gather information: terms of choice, best service provider 3. Evaluation of alternatives in bitcoin payment processors only: User based criteria 4. Purchase: choosing a platform and moving forward 5. Post purchase evaluation: process continues after purchase
- 13. Retailers/Merchants considers the use of bitcoin as a mode payment based on network effect Users segregate various payment platforms or service providers. User settles down with a service provider/brand After using service, if customer is satisfied the next decision journey will start. If not, he will restart with segregation. 1. 4. 3. 2. Customer Decision Journey
- 14. Touchpoints • MobileApp &Website • Merchants • DigitalWallets • BitcoinATM’s
- 15. Thank You by bit25